Due to the immense popularity of the sport, The Hong Kong Jockey Club (HKJC) managed to generate massive turnovers in the 2013-2014 season.
The club’s chief executive, Winfried Engelbrecht-Bresges, stressed that last season’s performance was the greatest so far in its 130-year history. It was the “most remarkable and notable season,” said Engelbrecht-Bresges.
Gambling news reports that HKJC maintains a stronghold of the horseracing and sports betting market in the special region. The company recorded record earnings with more than HKD 101.8 billion ($13.1 billion).
Year by year the firm is steadily growing. This year’s revenue was an increase of 8.5% from the season 2012-2013 season, as the turnover stood at HKD 93.8 billion. The overall tax that the Jockey Club had to pay to the government for the 2013-2014 season amounted to HKD 11.7 billion ($1.5 billion).
Last day betting topped HKD 1.7 billion
Last Sunday marked the last day of the season, which also attracted a crowd of around 35,000 people at the Sha Tin racecourse. Bets on sports in Hong Kong are quite popular, considering the wagers that were placed on the last day alone came to an astonishing HKD 1.778 billion ($229.4 million). It marks the biggest one-day betting amount for a racing event.
The HKJC’s executive director for racing, William Nader, highlighted the great success that the club has enjoyed in the last season. “The greatest season in the history of Hong Kong racing, both domestically and internationally. For a little place we pack a big punch.”